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Around the world, leaders are increasingly recognizing ecosystems as natural capital assets that supply life-support services of tremendous value. The challenge is to turn this recognition into incentives and institutions that will guide wise investments in natural capital, on a large scale. Advances are required on three key fronts, each featured here: the science of ecosystem production functions and service mapping; the design of appropriate finance, policy, and governance systems; and the art of implementing these in diverse biophysical and social contexts. Scientific understanding of ecosystem production functions is improving rapidly but remains a limiting factor in incorporating natural capital into decisions, via systems of national accounting and other mechanisms. Novel institutional structures are being established for a broad array of services and places, creating a need and opportunity for systematic …